Accountable Consulting LLC

01/14/2022

Accountable Consulting LLC has a fun tax fact to share with you.

01/13/2022

Tax season opens January 24, 2022, amidst the continuing Covid-19 pandemic and IRS staff shortages. Early filing and accurately prepared returns will minimize processing refund delays. Given IRS' understaffing, it is more important than ever for taxpayers to have their returns professionally prepared.

This could be another rough tax season for the IRS and taxpayers. Although this year’s filing season opens January 24, 2022 (i.e., it is the first day the IRS will accept and start processing 2021 returns), the Service still has a backlog of prior year returns to process and is plagued by staff sh...

01/12/2022

There are several important steps that anyone can use to take control of their finances in the new year - it simply requires them to keep a few key things in mind along the way.

01/12/2022

Tap into your full potential. Wednesday Wisdom from Accountable Consulting LLC

01/11/2022

While a proposal for "free" community college tuition has been floated in Congress, there are already a number of federal tax incentives that may help you defray the cost of your child's education. Some of these will be beneficial only with long-range planning.

Some in Congress have proposed “free” (i.e., government-paid) tuition for community college attendance. Even if that proposal were to become law, it still leaves parents and their children-students responsible for paying for college and university attendance if the student wants a bachelor or ot...

01/10/2022

Start your week on the right foot with Monday Motivation from Accountable Consulting LLC

01/08/2022

Accountable Consulting LLC has a fun SMB statistic to share with you.

01/07/2022

Your Friday tax fact from Kennesaw based Accountable Consulting LLC.

01/06/2022

Since the IRS only estimated the amount of the advance child tax credit payments made from July through December, some taxpayers may have received too much and others not enough. Thus, the advance child tax credit, as well as the economic impact payments, received in 2021 must be reconciled on the 2021 tax return with the amounts that each taxpayer is entitled to.

Early in 2021 Congress passed the American Rescue Plan which included a provision that increased the child tax credit amount and upped the age limit of eligible children. Normally, the credit was $2,000 per eligible child under age 17. For the 2021 tax year the American Rescue Plan increased the cre...

01/05/2022

Some Wednesday Wisdom from your friends at Kennesaw based Accountable Consulting LLC

01/04/2022

A reverse mortgage allows homeowners who are at least 62 years old to borrow against the equity in their home, and the loan is not due until the homeowner passes away or moves out of the home. The loan's proceeds, which aren't taxable, can be taken as a lump sum, a line of credit, or equal monthly payments. The mortgage interest may or may not be deductible.

With inflation on the rise and medical care costs escalating, what options do seniors have for keeping up, especially if they have a mortgage on their home and their retirement income is only barely covering their mortgage payments and other necessities, with little left over for some enjoyment in t...